NYMEX CRUDE OIL VS BRENT CRUDE OIL MONTHLY RANGE , US OIL EXPORTS HAVE SEEN A STRONG REBOUND IN RECENT YEARS , "OIL PRICE" WEBSITE POINTED OUT IN A REPORT THAT THE PRICE GAP BETWEEN THE NYMEX AND BRENT COULD POSE A THREAT TO THE SURGE IN US OIL EXPORTS , LAST YEAR , THE PRICE DIFFERENCE BETWEEN THEM WAS REALTIVELY SMALL , THE PRICE OF A BARREL OF NYMEX WAS HIGHER THAN THE BRENT CRUDE FOR $1 TO $3 , BUT HURRICANE HARVEY EXPANDED THE GAP BETWEEN THEM , THERE IS AN ABUNDANCE OF NYMEX CRUDE WICH MADE THE PRICE LESS THAN BRENT , AND THE GAP WIDENED UNTIL THE DIFFERENCE REACHED A LARGE $8 A BARREL IN LATE SEPTEMBER , AS A RESULT US CRUDE OIL EXPORTS ARE BOOMING , WHERE US CRUDE OIL BECAME LESS EXPENSIVE FOR BUYERS , NOW US CRUDE OIL IS TRADING AT $ 66.04 , BRENT OIL AT $69
THE CHART ILLUSTRATED THAT THERE IS A HEAD AND SHOULDERS BOTTOM , THE PATTERN WAS A VALID ONE WEN THE PRICE CLOSED ABOVE $52 AND THE PRICE ‘S TARGET SET AT $ 85 TO NYMEX , BRENT OIL‘S TARGET SET AT $90 , I DO THINK THESE TARGETS ARE FAR FROM BEING REACHED DURING THIS YEAR
